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Practicing caution when using a credit card as a financial tool

On Behalf of | May 9, 2018 | Credit Card Debt

Many individuals in Oregon and elsewhere consider it essential to cultivate and maintain a positive financial future. While working toward improving one’s credit score, there may be several available options to assist in the process, one of which is a credit card. Those who wish to make use of a credit card may find it advisable to gain an understanding of how to use one responsibly, and where to seek guidance should financial issues arise.

With high interest rates that accompany many credit cards, if at all possible, one may find it beneficial to clear out any remaining balances each month. Even if a person cannot pay the balance off in full, paying the minimum amount owed by the due date could prove vital, as late fees could harm one’s credit and cause interest rates to increase. Financial experts also suggest that it is advisable to keep balances under 30 percent of the approved credit limit.

One way to prevent credit card debt from being a concern is to only use a credit card for emergencies. Certain credit accounts may also offer rewards programs such as periods free of interest or cash rewards. Paying close attention to these offers could help prevent a potential disaster, as failing to pay off a balance before the end of a promotion could lead to devastating fees.

A credit card can act as a tool to help one build a healthier financial future, but it can also open a person up to certain financial risks. Those who began to experience significant financial concerns due to credit card debt could consider speaking with a bankruptcy attorney for guidance on the available outlets for relief. An attorney in Oregon can address a client’s concerns and provide guidance in making informed decisions regarding his or her financial future.

Source:, “7 Credit card tips for smart users“, Accessed on April 23, 2018


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The Law Office of Kim Covington is a debt relief agency, and I have helped families, individuals and small businesses, file for bankruptcy relief under the U.S. Bankruptcy Code, for over 22 years.